Wirehouse Firms
Learn the ins and outs of the wirehouse channel, including news, analysis and more on Bank of America-Merrill, Morgan Stanley, Wells Fargo and UBS.
BofA-Merrill Moves to Settle Lawsuit With Black Brokers
By Janet LevauxThe lawsuit, which alleges discrimination and was initiated in 2005, could be resolved for a reported $160 million as early as Tuesday.
August 26, 2013
Wirehouse Wealth Results Strong in Q2Bank of America said its second-quarter net income rose 63% to $4.0 billion, or $0.32 per share, from $2.5 billion, or $0.19 per share, a year ago, while…
August 22, 2013
Raymond James Sees 34% Jump in July AUMMeanwhile, Charles Schwab reports $8.8 billion in net new assets for the month.
August 22, 2013
FINRA Fines Morgan Stanley Over Bond InfractionsFirms must ensure that customers who buy and sell securities ... receive execution prices that are consistent with prices available in the marketplace," FINRA says.
August 21, 2013
UBS Nabs $4.8B Group; Morgan Stanley Picks Up Reps With $325MThe wirehouse broker-dealers are seeing a decent number of arrivals and departures in mid-August.
August 20, 2013
Hybrid Firms: What Are You Getting for Your Pay Cut?"Were willing to be in the trenches with our advisors," says Stratos CEO Jeffrey Concepcion, who recently helped an advisor win a $35 million account ...
August 20, 2013
BofA Puts Values-Based Investing in FocusBank of America said Tuesday that it was rolling out more products and services to help clients align their investments with their beliefs...
August 14, 2013
Fiduciary Fate of Millions of Retirement Accounts Soon to Be DecidedING court case heading for trial and impending DOL rule define duties of asset managers and advisors.